Valeo Financial Advisors LLC bought a new stake in Seritage Growth Properties Class A (NYSE:SRG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,300 shares of the financial services provider’s stock, valued at approximately $113,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James & Associates raised its position in shares of Seritage Growth Properties Class A by 5.6% in the 2nd quarter. Raymond James & Associates now owns 24,306 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 1,279 shares in the last quarter. Wallace Capital Management Inc. raised its position in shares of Seritage Growth Properties Class A by 2.4% during the 2nd quarter. Wallace Capital Management Inc. now owns 501,990 shares of the financial services provider’s stock valued at $21,299,000 after acquiring an additional 11,871 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Seritage Growth Properties Class A by 44.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 71,800 shares of the financial services provider’s stock valued at $3,046,000 after acquiring an additional 22,000 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Seritage Growth Properties Class A by 33.3% during the 2nd quarter. Gabelli Funds LLC now owns 24,000 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Seritage Growth Properties Class A by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 72,071 shares of the financial services provider’s stock valued at $3,058,000 after acquiring an additional 2,489 shares in the last quarter.

Several equities research analysts recently issued reports on the company. Boenning Scattergood set a $34.00 price target on Seritage Growth Properties Class A and gave the company a “sell” rating in a research report on Friday, May 18th. Zacks Investment Research lowered Seritage Growth Properties Class A from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 24th.

SRG stock opened at $51.13 on Thursday. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.89 billion, a P/E ratio of 34.78 and a beta of 1.22. Seritage Growth Properties Class A has a 12-month low of $34.07 and a 12-month high of $51.89.

Seritage Growth Properties Class A (NYSE:SRG) last posted its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.21). The firm had revenue of $49.27 million for the quarter. Seritage Growth Properties Class A had a negative net margin of 13.20% and a negative return on equity of 2.50%. The company’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 11th. Investors of record on Friday, September 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 27th. Seritage Growth Properties Class A’s dividend payout ratio is currently 68.03%.

In other news, Director Sharon Osberg purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The shares were acquired at an average cost of $44.45 per share, with a total value of $53,340.00. Following the transaction, the director now owns 2,500 shares in the company, valued at approximately $111,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.09% of the company’s stock.

Seritage Growth Properties Class A Profile

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 222 wholly-owned properties and 26 joint venture properties totaling approximately 39 million square feet of space across 49 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.

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Institutional Ownership by Quarter for Seritage Growth Properties Class A (NYSE:SRG)

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